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Results
Highlights of Monetary Policy Review by RBI
TG Team
25 Oct 2008
0 comment
Following are the highlights of the mid-term review of India's monetary policy conducted by Reserve Bank of India (RBI) Governor D. Subbarao Friday: - Bank rate, repo rate and reverse repo rate kept unchanged , Flexibility retained to conduct overnight auctions of securities. Cash reserve ratio kept unchanged at 6.5 per cent. Floating...
Posted Under:
Fema / RBI
|
News
RBI Caps E-Payment Charges
TG Team
16 Oct 2008
0 comment
The Reserve Bank of India (RBI) has capped fees charged by banks for electronic payment (e-payment) and collection of outstation cheques. The move is aimed at popularising electronic payments and discouraging higher charges levied by banks on customers....
Posted Under:
Fema / RBI
|
News
RBI Set Limit for Transaction through Mobile Banking
TG Team
22 Sep 2008
0 comment
The Reserve Bank of India has set a limit for maximum transaction per day through mobile phones. A customer can, now, transect Rs 2,500 to a maximum of Rs 5,000 in a day. Customers must have access to a debit or credit card to avail mobile banking. Many Indian leading banks are providing mobile banking in the country. The banks need to in...
Posted Under:
Fema / RBI
|
News
Banks Should Display Info regarding interest rates and service charges On Website – RBI
TG Team
15 Sep 2008
0 comment
After advising banks to display information regarding interest rates and service charges on the notice board inside their all the branches, now the central bank has asked them to do the same thing on their website. For the purpose, RBI has also issued a format in which the bank should display the information on their websites. ...
Posted Under:
Fema / RBI
|
News
RBI tightens deposit norms for small NBFCs
TG Team
19 Jun 2008
0 comment
The Reserve Bank of India has asked small non banking financial companies (NBFCs) to curtail their public deposits. In a notification put out on Monday, the RBI has tightened the rules governing access to such public deposits. It said that NBFCs with a net owned fund (NoF) of between Rs 25 lakh and Rs 2 crore, must limit their public dep...
Posted Under:
Fema / RBI
|
News
HUFs into financing can't access public funds
TG Team
27 Dec 2007
0 comment
The Reserve Bank of India (RBI) has clarified that a company in the structure of Hindu undivided family (HUF) cannot access public deposits if it is in the business of finance and on-lending. It can only access funds from relatives and family members. However, companies of such structures can access public deposits (inter-corporate deposi...
Posted Under:
Fema / RBI
|
News
All Fools Day rates basis for DEPB II
TG Team
10 Oct 2007
0 comment
(01/01/1970)
While under the duty draw back scheme, exporters are refunded the customs duties and excise duties paid on inputs, like raw materials, and intermediates after the products are exported, the DEPB scheme, seeks to neutralise the incidence of customs duty on the import content of the export product by way of grant of duty credit against the ...
Posted Under:
Fema / RBI
|
News
Highlights of RBI Credit Policy
TG Team
01 Aug 2007
0 comment
Reserve Bank of India Governor Dr Y Venugopal Reddy on Tuesday presented the First Quarter Review of Annual Statement on Monetary Policy for the Year 2007-08 on Tuesday. Dr Reddy kept the interest rates unchanged, but hiked the Cash Reserve Ration by 50 basis points to 7.0 percent....
Posted Under:
Fema / RBI
|
News
Guidelines on entry of new banks in the private sector
TG Team
03 Jan 2001
0 comment
The guidelines for licensing of new banks in the private sector were issued by the Reserve Bank of India (RBI) on January 22, 1993. Out of various applications received, RBI had granted licences to 10 banks. After a review of the experience gained on the functioning of the new banks in the private sector, in consultation with the Govern...
Posted Under:
Fema / RBI
|
News
Guidelines on Entry of New Private Sector Banks
TG Team
22 Jan 1993
0 comment
For well over two decades, after the nationalisation of 14 larger banks in 1969, no banks have been allowed to be set up in the private sector. Progressively, over this period, public sector banks have expanded their branch network considerably and catered to the socio-economic needs of large masses of the population, especially the weake...
Posted Under:
Fema / RBI
|
News
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